Cochin Shipyard soars on bagging international order for constructing of Commissioning Service Operation Vessels

Cochin Shipyard is currently trading at Rs. 606.55, up by 16.15 points or 2.74% from its previous closing of Rs. 590.40 on the BSE.

Cochin Shipyard
Cochin Shipyard

The scrip opened at Rs. 592.00 and has touched a high and low of Rs. 608.95 and Rs. 590.10 respectively. So far 13081 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 616.60 on 03-Nov-2022 and a 52 week low of Rs. 281.00 on 08-Mar-2022.

Last one week high and low of the scrip stood at Rs. 616.60 and Rs. 533.35 respectively. The current market cap of the company is Rs. 7766.14 crore.

The promoters holding in the company stood at 72.86%, while Institutions and Non-Institutions held 8.64% and 18.48% respectively.

Cochin Shipyard (CSL) has bagged an international order for constructing 2 nos. of Commissioning Service Operation Vessels (CSOV) from a European Client, with an option to build 4 more of such vessels to be exercised by the Owner within a period of one year.

These vessels are intended for the services of offshore wind farm installations towards its commissioning and maintenance. These specialized vessels are being contracted for the first time in the country. The estimated project cost for the firm order is approximately Rs 1000 crore and the project completion time is 35 months.

Cochin Shipyard is the first Greenfield and presently the most modern shipbuilding and ship repair yard in India. The company caters to clients engaged in India’s defence segment and global commercial shipping sector. These vessels have been designed in-house by CSL, and classed by the Indian Register of Shipping.

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